Idemitsu Kosan opens a new Korean OLED materials manufacturing company

Idemitsu Kosan established a new OLED materials manufacturing company in South Korea today. The new company (called Idemitsu Electronic Materials Korea) will join Idemitsu current OLED production facility in Omaezaki, Shizuoka - and will supply materials to customers in Korea, Japan, Taiwan, Europe and other countries. Idemitsu says they see further expansion in the OLED industryin the coming years.

The new company will start production sometimes in 2012. It will have around 30 employees (5 transfered from Idemitsu Kosan) and will have an initial capital of 30 billion won (about $30 million USD).